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biweekly-mortgage-calculator

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					                             Bi-weekly Mortgage Calculator: This calculator shows the differences between a
                             weekly mortgage payment. Fill in the information in the white box, and your results
                             a visual representation of the differences between the two payment methods, see t


                                                                                   Principal vs. Interest: Mont
                                                                      $600.00
          Amount of mortgage $                 100,000                $500.00
               Down payment $                   20,000                $400.00




                                                            Payment
           Annual interest rate                  6.00%                $300.00
      Term of mortgage (years)                       30               $200.00
              Monthly payment                  $477.25
                                                                      $100.00
                                                                        $0.00
            Total principal paid $             100,000
             Total interest paid $              71,811
               Grand total paid $              171,811


             Biweekly payment      $            238.63
          Number of payments                    638.90
  New term of mortgage (years)                   24.51                            Principal vs. Interest: Bi
New term of mortgage (months)                   294.07                $300.00
            Total principal paid   $        100,000.00                $250.00
             Total interest paid   $         52,458.88      Payment
                                                                      $200.00
               Grand total paid    $        152,458.88
                                                                      $150.00
                                                                      $100.00
Savings with biweekly payment      $       19,352.61
       Time savings in years                                           $50.00
       with biweekly payment                   5.49                       $-
s the differences between a monthly mortgage payment and a bi-
 white box, and your results will show up in the remaining boxes. For
wo payment methods, see the graphs at the right.


rincipal vs. Interest: Monthly Payment

                                                           Year
                                                             1             2            3           4         5
                                                           Principal
                                                            $395.51      $390.32       $384.81    $378.96   $372.75
                                                           Interest
                                                              $81.75      $86.93        $92.44     $98.29   $104.50




                    Year


                                                             1             2            3           4          5
                                                       $     180.44     $ 176.86   $    173.05   $ 169.01   $ 164.73
rincipal vs. Interest: Bi-weekly Payment               $       58.19    $ 61.77    $     65.58   $ 69.61    $ 73.90



                                                           Principal
                                                           Interest




                    Year
  6          7          8          9          10         11         12         13         14
$366.16    $359.16    $351.73    $343.84    $335.46    $326.57    $317.13    $307.11    $296.47
$111.09    $118.09    $125.53    $133.41    $141.79    $150.68    $160.12    $170.15    $180.79




   6          7          8          9          10         11         12         13         14
$ 160.18   $ 155.35   $ 150.22   $ 144.77   $ 139.00   $ 132.86   $ 126.35   $ 119.43   $ 112.09
$ 78.45    $ 83.28    $ 88.41    $ 93.85    $ 99.63    $ 105.77   $ 112.28   $ 119.19   $ 126.53
  15         16         17         18         19         20         21         22         23
$285.17    $273.17    $260.44    $246.92    $232.56    $217.33    $201.15    $183.97    $165.73
$192.09    $204.08    $216.82    $230.34    $244.69    $259.93    $276.11    $293.28    $311.52




   15         16         17         18         19         20         21         22         23
$ 104.30   $ 96.03    $ 87.25    $ 77.92    $ 68.03    $ 57.52    $ 46.37    $ 34.53    $ 21.96
$ 134.33   $ 142.60   $ 151.38   $ 160.70   $ 170.60   $ 181.10   $ 192.26   $ 204.10   $ 216.67
  24         25        26        27        28        29        30
$146.37    $125.82   $103.99    $80.83    $56.23    $30.11     $2.39
$330.88    $351.44   $373.26   $396.43   $421.03   $447.14   $474.87




   24
$   8.62
$ 230.01

				
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